YNH Property
How their buildings read
2 poor
Outcomes still vary building by building. Check the building, not the brochure.
What we found
In July 2026 YNH deferred RM34.41 million of coupon payments on its perpetual securities for the second time that year, to preserve cash for ongoing developments including Solasta Dutamas and its Seri Manjung township projects.
No winding-up order was made against YNH Construction Sdn Bhd, a unit of YNH Property, at a High Court hearing on 16 July 2026, after the Inland Revenue Board approved a revised arrangement for the unit to settle its outstanding tax liability of RM5.16 million by 10 September 2026, with a RM1.71 million tax increase under Section 103 of the Income Tax Act 1967 to be waived on completion.
The evidence
Regulatory and legal
NegativeNo winding-up order was made against YNH Construction on 16 July 2026; the IRB approved a plan to settle RM5.16 million of tax arrears by 10 September 2026, and the court set a further hearing for 27 October.
2 more findings
YNH Construction Sdn Bhd, a unit of YNH Property, was served with a winding-up petition dated March 30, 2026 by the Inland Revenue Board over RM7.21 million in unpaid taxes, with court hearing fixed for July 16, 2026.
The company has a pattern of disclosure lapses: a 2016 turnkey construction deal and its 2022 termination were disclosed only after regulatory prompting, and in April 2024 the company waited five days to announce a development agreement with Chin Hin Group Property.
Corporate continuity
NegativeAs of end-June 2023, YNH Property had invested about RM1.1 billion in joint ventures with 17 properties across the Klang Valley, Perak, Kuala Pilah and Seberang Perai, with only RM16.8 million in cash holdings against this investment exposure.
2 more findings
External auditor Baker Tilly Monteiro Heng PLT gave a qualified opinion on the group's accounts for the 18 months ended 30 June 2023, over RM1.1 billion held in inventories under contracts with joint-venture parties or landowners for property development work.
Former auditor Baker Tilly raised concerns in October 2023 over RM1.1 billion worth of joint ventures and turnkey projects carried as inventories on YNH's balance sheet; a special independent review by UHY Advisory completed in April 2024 found YNH Property lacked documented policies or procedures for contracting and payment processes.
Independent recognition
Positive163 Retail Park by YNH Property Bhd won in the Neighbourhood Mall category of The Edge Malaysia Property Development Excellence Award, part of the Top Property Developers Awards 2023.
One more finding
The Edge Billion Ringgit Club 2022 named YNH the winner for highest returns to shareholders over three years among property companies below RM3 billion market capitalisation, its second such win; the award is for share performance, not for delivering buildings.